Sony may cut PS3 as PS4 nears

The impending announcement of the "Orbis" or PlayStation 4 game player may result in a major price drop for the current Sony (SNE) PlayStation 3, analysts said. On Feb. 20, journalists and analysts will have a chance to see the device in New York. Sony has started moving into multimedia, partnering with BBC to pump sports content via the PS3, as well as on-demand services like Netflix (NFLX). Microsoft's (MSFT) Xbox remains the No. 1 console in the U.S. but the global market is still up for grabs, analysts said. Sony shares rose 0.8% to 14.34.